> For the complete documentation index, see [llms.txt](https://docs.cortexdao.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.cortexdao.com/tokenomics/token-utility.md).

# Token Utility

[Locking](/tokenomics/usdcxd/locking-cxd-for-vlcxd.md) the CXD token for vlCXD grants access to: 

* **Fee distribution.** A portion of protocol revenue is distributed to CXD lockers. 
* **Governance.** Vote to update, change, and revise protocol system parameters. 
* **Boosted Index returns.** Holding CXD + any CortexDAO Index = increased Index APR!